Connecticut Market Trends
Median Value of Occupied Housing Units in Connecticut Over the Last 8 Years
Median home values in Connecticut have shown a generally upward trend over the past eight years, moving from $270,500 in 2015 to $323,700 in 2022. This growth suggests that the real estate market in Connecticut might be gradually strengthening, particularly as household values seem to be rising faster than the national average, which only climbed from $125,500 to $179,400 over the same period. For potential investors or those aiming to move to Connecticut, this underscores a potentially appreciating market, which could offer more robust returns compared to other regions in the United States.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in Connecticut over the last 10 years
Active Loans 30-60 Days Past Due in Connecticut over the last 10 years in Connecticut
Perent of loans that are Active Loans 90-180 Days Past Due in Connecticut over the last 10 years in Connecticut
Residential Energy Tax Credit Per Tax Return in Connecticut Over the Last 9 Years
Connecticut has shown a volatile yet increasing trend in residential energy tax credits per tax return over the last nine years. With fluctuations ranging from $437.19 in 2013 to a significant spike at $3,408.51 in 2018, and a recent level of $1,465.56 in 2021, the data highlight opportunities for substantial energy cost savings and efficiencies for residents. For those looking to invest in energy-efficient properties, or considering environmentally friendly upgrades, Connecticut’s evolving tax incentives may offer significant financial benefits.
Average Real Estate Taxes Per Tax Return in Connecticut Over the Last 10 Years
Over the last decade, average real estate taxes per tax return in Connecticut have seen a steady increase, rising from $7,034.18 in 2012 to $10,464.13 in 2021. This upward trend highlights a significant burden for property owners, making the state’s real estate market potentially less attractive for new investors or those considering relocation due to high annual tax commitments. With such consistent growth in taxes, existing homeowners might see their finances increasingly stretched, potentially impacting their long-term investment strategies or decisions to expand property holdings within the state.
Percentage of Farm Returns in Connecticut Over the Last 10 Years
Connecticut has seen a mild decline in the percentage of farm tax returns over the last decade, dipping from 0.19% in 2012 to around 0.17% in 2021. Given the state's steady decrease in farm returns, potential investors and property developers might infer a shifting economic landscape, with perhaps more focus on industries other than agriculture. For those interested in rural living or agribusiness, understanding these trends can provide crucial insights into the area's economic health and long-term sustainability.
Economic Outlook
Average Taxable Income per Tax Return in Connecticut over the last 9 years
Over the past nine years, the average taxable income per tax return in Connecticut has shown a significant upward trend, with notable increases each year and a substantial rise of $21,529.22 from 2020 to 2021, peaking at $126,412.92 in 2021. This consistent growth highlights a strengthening economic environment, which can be attractive to investors, developers, and individuals considering relocation. For anyone interested in the financial dynamics of living or investing in Connecticut, these figures reflect a robust and potentially lucrative market.
Average State and Local Income Taxes Per Tax Return in Connecticut Over the Last 10 Years
Over the past decade, residents in Connecticut have seen a steep rise in average state and local income taxes per tax return, with amounts surging from $11,852.83 in 2012 to $29,486.02 in 2021. The dramatic increase, particularly noticeable from 2017 onward, highlights a significant hike in the tax burden for individuals living in the state. This escalation could impact decisions for both current residents and potential movers, framing financial considerations and lifestyle changes against the backdrop of a steeply rising tax environment.
Average Total Tax Liability Per Tax Return in Connecticut Over the Last 10 Years
Connecticut has seen a notable increase in average total tax liability per tax return over the past decade, jumping from $19,523.10 in 2012 to $27,961.83 in 2021. The sharpest rise occurred in 2020 and 2021, reflecting either changes in tax policies or income levels. For investors, homebuilders, or potential residents, this trend indicates a growing economic environment and potential increase in personal income but also suggests higher tax obligations.
Cost of Living in Connecticut
Safety trends & Data
Property Crime Trends in Connecticut Over the Last 5 Years
Over the past five years, Connecticut has experienced fluctuations in property crime rates, with significant variations across different types of crimes. Fraud consistently shows the highest numbers, peaking at 9,952 incidents in 2018 and gradually declining to 6,374 in 2022. While cases of larceny-theft and vandalism have gradually decreased, arson remains fairly steady with minor fluctuations. Interestingly, crimes like embezzlement, motor vehicle theft, and burglary have seen overall declines, possibly indicating stronger preventive measures or shifts in criminal activity. For potential investors, developers, or real estate agents, these trends emphasize a relatively safer environment concerning property crimes over time. Appraisers and insurance agents might find this data relevant, as decreasing crime trends can potentially influence property valuations and insurance premiums.
Demographics
Connecticut's adult population shows a slightly higher number of females compared to males. Educationally, the state suggests a significant proportion holding at least a high school diploma, with many residents achieving bachelor's or higher degrees. Age distribution highlights a balanced spread with noticeable concentrations in the 25-34 and 55-64 age groups. Racial demographics indicate a predominance of White individuals, followed by a smaller yet notable Black or African American... Read more
Race Distribution in Connecticut (2022)
Educational Attainment in Connecticut (2022)
Age Distribution in Connecticut
Citizen Population in Connecticut (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Connecticut's 2020 U.S. Presidential Election voter trends show a substantial lead for the Democratic Party with approximately 59.3% of votes, compared to around 39.2% for Republicans. Libertarians and Green Party candidates made only minor impacts with just over 1.1% and 0.4% respectively. Other parties barely registered, garnering less than 0.1% of the vote. This pattern might reflect a strong Democratic inclination in Connecticut, potentially influencing future political strategies and campaigns in the state.
39.19% of voters voted for the Republican party in the 2020 Presidential Election
59.26% of voters voted for the Democrat party in the 2020 Presidential Election
1.11% of voters voted for the Libertarian party in the 2020 Presidential Election
0.41% of voters voted for the Green party in the 2020 Presidential Election
0.03% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Connecticut over the last 10 years
Connecticut's student-to-teacher ratio has shown considerable fluctuations over the past decade, peaking at nearly 17 students per teacher between 2018 and 2020, before declining to below the national average of 14 students per teacher by 2021. This trend might be crucial for potential investors, real estate agents, and families considering relocation, as it could reflect changing school resources and education quality in the state. Lower ratios in recent years could indicate increased hiring or reduced student populations, potentially enhancing the learning environment and making the area more attractive for property investors and prospective residents prioritizing education.
